Man nabbed in Mexico to face securities fraud charges in Alberta

A man accused of securities fraud by the Alberta Securities Commission in 2014 has been arrested in Mexico and returned to Canada to face the charges.

Kenneth Charles Fowler and another man, Douglas Wayne Schneider, were charged in January 2014 with fraud and other securities offences in the Provincial Court of Alberta. The men were accused in connection with the sale of The Investment Exchange Mortgage Corporation (TIE) securities.

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“Based on information provided by the ASC, on Jan. 13, 2016, Fowler was arrested by Mexican immigration authorities as he was illegally residing in Ensenada, Baja California, Mexico,” the ASC said in a statement Monday.

The Canadian regulator said members of the public came forward with information “that allowed the ASC to confirm Fowler’s location.”

He was deported to Vancouver, where he was arrested on Jan. 14, according to the ASC. He is to be transported to Calgary this week to face a bail hearing.

Fowler was extradited from California in June 2014, in what was acknowledged at the time as an usual move for a Canadian regulator.

He pled guilty a year later to making misleading statements, trading in securities without registration, and trading in distributions of securities without a prospectus. Fowler was sentenced to one year in jail, with credit given for time already served, for his role in TIE Mortgage.